Dow slides more than 360 points on earnings, financial woes

4:04 pm ET Nov 1, 2007

DJIA

13,567

-362.14

S&P

1,508

-40.94

NASDAQ

2,794

-64.29

10Yr

4.36%

-0.114

Dow slides more than 360 points on earnings, financial woes

NEW YORK
U.S. stocks swooned Thursday, with the Dow industrials sliding more than
360 points, as a downgrade of Citigroup Inc. revived concerns about woes
in the financial sector, sobering up markets after the euphoria of the
Federal Reserve's rate cut the previous day.

The Ratings Game: Citigroup takes a hit on concern it must cut its big
dividend

NEW YORK
Citigroup shares tumbled nearly 7% to reach a multiyear low Thursday
amid new concerns that the financial services conglomerate may not be
able to support its hefty dividend payout.

Exxon Mobil's quarterly net income off 10%; revenue up 2.7%

NEW YORK
Exxon Mobil Corp.'s third-quarter income fell 10% in its biggest
year-over-year drop in three years as the rising cost of oil boosted
expenses and outpaced any increases in prices that the petroleum giant
could get for its products, financial results showed Thursday.

Futures Movers: Crude futures fall from record high to close 1% lower

SAN FRANCISCO
Crude-oil futures retreated Thursday from a record high set during the
previous session, as a rebounding dollar reduced the appeal of oil as an
alternative investment and crude investors locked in gains.

John Dvorak's Second Opinion: How to beat Google? Work smarter and
harder

BERKELEY, Calif.
Insofar as the market is concerned, Google Inc is now the fifth-largest
company in the USA. I am more than a little amused, as my suspicion that
we are entering Bubble 2.0 is confirmed.